WLDI Washington Life and Disability Insurance Exam - Set 1 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: A health policy provision gives the newly insured a short window after receiving the policy to review it and return it for a full premium refund if not satisfied, treating it as though never issued. Which of the following provisions is this?
Question 42: A company promises a valued executive that it will pay her additional retirement income in future years if she remains with the firm, funding the promise informally rather than through a qualified plan. Which of the following arrangements does this describe?
Question 43: A newly elected Washington insurance commissioner is preparing to take office, and a staff member asks how long the elected term of that office runs before the next general election fills it again. Which of the following states the length of the commissioner's term?
Question 44: A convertible term life policy gives the insured a valuable right that allows a change to permanent coverage under certain conditions without having to prove good health again. Which of the following describes that right?
Question 45: A health policy that the insurer must renew to a stated age and on which it can never raise the premium at all, not even for an entire class of insureds, offers the strongest continuation guarantee. Which of the following renewability classifications is this?
Question 46: A disability policy pays full benefits when the insured cannot perform the material duties of the specific job held when disability began, even if the insured could work in some other occupation. Which of the following definitions of total disability is this?
Question 47: An annuity credits a guaranteed minimum interest rate and shifts the investment risk to the insurer, so the owner's accumulation value does not fall when markets decline. Which of the following annuities does this describe?
Question 48: A Washington annuity contract pays a fixed income, and the insurer later discovers the annuitant's age was misstated at issue. Which of the following describes what the misstatement provision permits the insurer to correct for an annuity or pure endowment?
Question 49: A rider on a life policy provides that if the insured becomes totally disabled for a stated period, the insurer will keep the policy in force by forgoing the premiums the owner would otherwise owe. Which of the following riders is this?
Question 50: During underwriting, the insurer asks the applicant's own doctor to supply records and findings about a previously treated condition so the company can evaluate the medical history. Which of the following underwriting sources is being used?
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